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Blockchain: Last Week Updates. #SDdigest

17.09.2018 — 0

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  • Hong Kong jeweler introduces Blockchain app for diamond authentication and tracking. Hong Kong jewelry company Chow Tai Fook has partnered with Gemological Institute of America (GIA) to create a blockchain-based app that will enable customers to ascertain the origin and authenticity of stones purchased.

“Not only does this initiative make it easier for consumers to manage their assets conveniently and efficiently, it is a long-term and invaluable investment that enriches consumers’ knowledge of their diamonds.”

  • According to LongHash, every year, more than $87.3 billion is spent on mining gold. In contrast, less than $4.3 billion is used to mine Bitcoin. Essentially, gold mining requires 20 times more energy and cost in comparison to Bitcoin mining, despite the narrative that has been circulating since the surge in the price of Bitcoin in early 2017 that Bitcoin is hugely impacting the environment negatively.

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  • A new report from the World Economic Forum has high hopes for blockchain with revenue growth predicted to be over $1 trillion in world trade. The $1.1 trillion growth predicted in the next decade equates to 1.5% growth in the global GDP attributable solely to blockchain technology.

  • Just days after French soccer giant Paris Saint-Germain football club (PSG) announced its own cryptocurrency, complete with an initial coin offering (ICO), Brazil’s Avaí Football Club has come up with a similar plan. Brasil’s Avaí becomes first football club to launch its own cryptocurrency and plans to raise funds worldwide through the ICO, aiming to raise $20 million in the sale

“With this initial money offer we are opening a new chapter in football and the sports industry in general.”

  • Financial services giant Mastercard has invented a blockchain system that it believes can simplify business-to-business (B2B) transactions in a high-volume enterprise environment. That system is outlined in a series of three patent applications.

Have a nice and productive week! See you next Monday!

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